Let's Do the Numbers

Four Quarters InterFaith Sanctuary
Financial Report for Fiscal 2008

Income and Expense by Category

On the income side, it is first necessary to explain the effects of Gaian Mind on our financial statement. Four Quarters handled registrations for Gaian Mind, and all of those funds were deposited to our accounts before disbursal to Gaian Mind.

The outside event income figure of $95,580 is then largely the gross income from Gaian Mind registrations handled through the Four Quarters ticket desk, which was probably 90% of all Gaian Mind registrations. The outside event expense figure of $53,155 is largely the funds remitted to Gaian Mind from those registrations leaving about $40,000 as Four Quarters income from the event, which includes income from our meal plan and other campground fees.

In 2009 then, we will see a $95,000 reduction in total revenue, with a $40,000 reduction in actual income, constituting about a 15% drop in total income.

The Four Quarters Winery deposited a $7,000 profit to Church accounts in 2008, the same amount as in 2007. These numbers mask a very important development however. Beginning in 2008 the winery began wholesaling its wine through retail stores in Maryland, dropping its retail pricing by 30% and selling wholesale at one half of retail pricing. Sales have tripled and the winery reinvested those funds in greatly increased production capacity. We expect to see Church winery income at least double in 2009.

On the expense side, Camp Equipment + Repair reflects last years $8,000 purchase of the Logosol planer, to be used in this year’s dormitory construction. This category and Camp Improvements will certainly be less in 2009 with the loss of Gaian Mind income.

Church Ward Support increased due to (hopefully) one time medical costs. And with the increase in the number of summer interns, the actual  cost of support per person has decreased.

Mortgage payments have decreased, as we are now beyond the “sweet spot” on how much money is actually going to the principal vs. interest; at this point, the ratio is 65% principal to 35% interest. As of this writing, the mortgage balance is at $76,000.  Much Thanks to the Pledge Makers from all of us!

Communications are almost all the cost of distributing the Wheel of the Year Calendar, and here we are slashing costs for 2009 by returning to a black and white format, and eliminating distribution points outside of our core region.

And last, Transportation + Utilities. With rising carbon costs and our deep awareness of Peak Oil here on the Farm; we have worked very hard to tighten our carbon foot print. The results are in the numbers!    

As always the accounting system is open for Members to review, and we love questions!